Measured Wealth Private Client Group LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Measured Wealth Private Client Group LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 1,538 shares of the oil and natural gas company’s stock, valued at approximately $265,000.

A number of other large investors have also recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. increased its position in Diamondback Energy by 416.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 676 shares of the oil and natural gas company’s stock worth $117,000 after purchasing an additional 545 shares in the last quarter. Financial Advocates Investment Management boosted its stake in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares during the last quarter. Oak Harvest Investment Services raised its position in shares of Diamondback Energy by 16.6% in the third quarter. Oak Harvest Investment Services now owns 51,061 shares of the oil and natural gas company’s stock valued at $8,803,000 after buying an additional 7,257 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Diamondback Energy by 4.5% during the third quarter. Pinnacle Associates Ltd. now owns 69,378 shares of the oil and natural gas company’s stock valued at $11,961,000 after buying an additional 3,003 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its position in Diamondback Energy by 2.5% during the third quarter. First Trust Direct Indexing L.P. now owns 5,720 shares of the oil and natural gas company’s stock worth $986,000 after acquiring an additional 141 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FANG. Scotiabank reduced their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI reduced their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Morgan Stanley lifted their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Finally, Bank of America boosted their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Diamondback Energy Price Performance

Shares of FANG stock opened at $178.33 on Thursday. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a market capitalization of $31.80 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $183.98 and a 200-day simple moving average of $193.38.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.68 earnings per share. Equities research analysts anticipate that Diamondback Energy, Inc. will post 17.37 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were given a $2.34 dividend. This represents a dividend yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.